Focus Financial Network Inc. Raises Position in General Mills, Inc. (NYSE:GIS)

Focus Financial Network Inc. lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 10.1% during the third quarter, Holdings Channel reports. The fund owned 36,894 shares of the company’s stock after acquiring an additional 3,379 shares during the period. Focus Financial Network Inc.’s holdings in General Mills were worth $2,725,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norden Group LLC acquired a new position in shares of General Mills during the first quarter worth about $308,000. Diversify Advisory Services LLC purchased a new stake in shares of General Mills in the 1st quarter valued at approximately $625,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of General Mills by 13.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 177,591 shares of the company’s stock valued at $12,426,000 after purchasing an additional 21,683 shares in the last quarter. Hollencrest Capital Management lifted its position in shares of General Mills by 575.0% during the 1st quarter. Hollencrest Capital Management now owns 2,700 shares of the company’s stock worth $189,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Moloney Securities Asset Management LLC grew its stake in shares of General Mills by 26.9% during the first quarter. Moloney Securities Asset Management LLC now owns 13,342 shares of the company’s stock worth $934,000 after purchasing an additional 2,828 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GIS has been the subject of a number of recent analyst reports. The Goldman Sachs Group began coverage on General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price target for the company. Barclays boosted their target price on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Stifel Nicolaus increased their price target on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Bank of America upped their target price on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Piper Sandler increased their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus target price of $73.00.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the transaction, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,555 shares of company stock valued at $4,657,676 in the last ninety days. Insiders own 0.26% of the company’s stock.

General Mills Stock Performance

Shares of GIS stock opened at $68.26 on Friday. The stock’s 50-day moving average price is $72.09 and its 200 day moving average price is $69.18. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $37.90 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 3.51 and a beta of 0.10. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 EPS. As a group, equities research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.52%. The ex-dividend date was Thursday, October 10th. General Mills’s dividend payout ratio is presently 57.14%.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.